Aakash’s revenue up 45 per cent, profit jumps 82 per cent in FY22

Byju’s-owned Aakash Educational Services (AESL) reported an operational revenue growth of 44.56% to Rs 1,421 crore in FY22, up from Rs 983 crore in FY21. The firm’s profit jumped 82% to Rs 79.5 crore, from Rs 43.6 crore in FY21, the company’s financial statement sourced from the Registrar of Companies showed.

Tuition fees earned from students on coaching services increased 48.4% to Rs 1,282 crore, which accounted for 87.8% of the firm’s total revenue in FY22.

Rest of the income was generated from the franchisee model, which saw a 16.8% y-o-y increase to Rs 139 crore in FY22. The company also earned a non-operating income of Rs 43 crore mainly through interest, manpower and covid-19 rent concession in FY22.